Economy

I've been looking at ways to save money lately, given the state of the economy. I've always been big on clipping coupons, and I love to frequent my local Goodwill store -- that store recently moved to a bigger building and has a huge selection of near-new clothing. I feel like when I buy gently used clothing I'm not only saving money, but saving on waste and helping the environment. Plus, it's a total thrill to get a snazzy Baby Gap sweater for only $2.00!

I have no problem substituting generics for brand-names, particularly when it comes to medicines (adult and baby ibuprofen, for example). For the staples that I buy a lot of (think diapers and wipes), I shop at BJ's -- I share a membership with a coworker, so it only costs me $12.95 a year to belong.

I canceled the maid service. Sorry, house.

I started buying Purina cat food instead of Nutro. And I don't buy poor Bob treats nearly as often. Then again, with Andrew eating finger foods, and dropping pieces on the floor here and there, Bob's making out just fine all the same.

I transferred high-interest credit card balances to cards with lower introductory rates.

My mortgage is (was) held by Countrywide, which was acquired by Bank of America, which is now offering "financial hardship" deals for Countrywide customers who are in danger of falling behind in mortgage payments. I'm going to call them soon to see if there's anything they can do for me. My mortgage eats 49% of my take-home pay. It was hard enough to keep up with that _before_ Roo came along, and with him the expense of daycare, diapers, etc. If BofA is able to do something about my mortgage, perhaps I can pay off those credit card debts sooner rather than later.

Speaking of daycare, I contribute the annual maximum of $5,000 to my health savings account, pre-tax, for dependent care. I also save all of my receipts for charities, donations, etc. for tax purposes. Not that I was able to contribute much this year.

I'm winterizing the house big-time this fall: Plastic sheeting on the windows (although I'm afraid to do it in Roo's room for some whacko first-time mommy fear of suffocation; I know, it's completely irrational). Thermal drapes on the sliding glass doors in the den. Space heaters in the 2 bedrooms rather than heating the entire house. Draft-dodgers on the entry doors. I'm even thinking about those light-switch insulation kits (apparently those leak heat like a sieve).

I use reusable canvas bags at the grocery store -- for each bag you bring in, you get 5 cents off your grocery order.

I've taken to bathing Andrew only every other night, on average, rather than every night. Not only does it save on hot water, but it's better for his skin, as he tends toward sensitive skin like I do. Unless I'm scummy, I only shower every other day, particularly in fall/winter when I haven't been sweating.

Here are some areas that I really could/should cut:
1. Hairdresser. Although it's my one "splurge," I don't _need_ to spend what I spend, every 6-8 weeks. But I happen to know that my hairdresser is in more dire financial straits than I am, so I would feel bad about depriving her of business.
2. Fast food. Amazing how $4-5 here and there adds up. And I only do it because I've neglected to prepare breakfast the night before, to eat in the car. It's not hard to make a peanut butter sandwich, idiot. Even some store-bought muffins or bagels would be cheaper and relatively healthier.
3. Magazine subscriptions. I love my food magazines, but who has time to cook fancy food anymore? (Sigh). And then they just pile up before getting tossed in the recycling. Actually, who am I kidding? I never recycle the food ones. They live with me permanently. All other magazines go, though.
4. Get rid of the land line and go cell-only. The only ramification that I can think of would be that the babysitter would have to bring her cell phone with her rather than wait for me to call my home phone when I leave work on Board meeting nights.
5. Cancel Netflix.
6. Cancel World of Warcraft.
7. I desperate measures are called for, cancel cable and TiVo (nnnoooooooooo!!!!!!)

These things would help me operate with a monthly surplus, rather than a deficit. Then again, there are things that I should be doing (i.e. purchasing a life insurance plan that would actually pay off my mortgage should I die) that just aren't in the mix right now at all.

Of course, there's always the option of selling the house, assuming a) it's still worth more than I owe on it, after real estate commissions and taxes, and b) it would actually sell. Not so sure about either of those.